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3461  Economy / Economics / Re: Should we be scared of zero reserve banking? on: September 10, 2020, 02:14:44 PM
The the average person the whole banking and cash system doesnt look great...

The systems aren't at cost of the tax payer and as you said have been sanctioned by the FED. The government doesn't pay for stuff with taxpayers money it just supplements itself with it - printing money to banks is not a cost to the taxpayer it's a wealth tax on those holding cash.

I'm not sure of the protocols for banks current reserves (previous were around 3% so we may find out again soon) but loans are already priced into the market from the point they're taken imo.
3462  Bitcoin / Legal / Re: Mastercard launched a cryptocurrency testing platform for central banks and fina on: September 10, 2020, 01:08:21 AM

I mention amex, visa and mastercard because they are the most used international means of payment and also because having all 3 with blockchain technology would increase the offer and therefore companies would give promotions or some way to attract customers as in all businesses increasing the offer. the supply price is better and thus there is also more demand

I thought I mentioned them?.
My point with Amex was they're not accepted in many places due totthe high fees..

Realistically I'd like to see banks team up with supermarkets or supermarkets owning banks (like tesco have a bank in the UK). So the company can manage everything for the customer if the customer wants them to and they will still get faster payments - even if done via a blockchain.
3463  Other / Meta / Re: Recover a blocked account on: September 10, 2020, 12:50:39 AM
How do you inadvertently plagiarise? Was it not obvious what you were copying was someone else's work?

If you're banned and have committed the offence then it's unlikely you'll be unbanned, this might just be one to move on from.
3464  Bitcoin / Legal / Re: Mastercard launched a cryptocurrency testing platform for central banks and fina on: September 10, 2020, 12:24:12 AM
I hope we see a few companies hashing it out in the space and trying to be competitive against each other. One or two companies working just because they have a good name sounds like a bad idea (ie mastercard and visa)...

I don't know if cbdcs really aew a good route to go down as some countries don't like people holding foreign currency and that could continue and may be extended to other countries (which could include bitcoin). Much likd the American ban in the past of owning gold.

And as long as we have something secure that isn't as expensive and unaccepted as Amex then this might be good for making international payments cheaper.
3465  Economy / Trading Discussion / Re: Fibonacci Retracement for dummies on: September 09, 2020, 08:47:02 PM
I didn't know where the 0.618 actually came from (thought it was something to do with the sequence but) the 34/55 =0.618 is quite nice....

It's a bit like the rsi for me or the fear and greeted index as they can't all be used together but can support other basic TA patterns.
3466  Economy / Speculation / Re: Are we at the first sell off point now?. on: September 09, 2020, 08:12:51 PM
I'm a little confused at the moment, if I look at the current unstable market movement, it's been almost a week.

Thank you, @jackg for the information, maybe I will hold on for Bitcoin now for the next few days.
I will follow the updates here on the development of Bitcoin in the next few days, it seems that I will follow your instructions this time in a healthy manner.

It seems that I am not in a hurry to buy back, what might be a good move to wait a little longer $6000 or $8000, is my belief healthy.

I see this current descending triangle (as I'd name it, extasie called it a bear penant as both are quite similar) but either way we should break down to 9000 in the next move coming (if we don't cross 10.6k before a drop below around 9700 I think this comes even more likely).

While I don't think my analysis isn't too innacurate, I don't trade it with much compared to the size of my hold position just in case.


So true. Cheesy

The old hands get it: Bitcoin bears are really just bulls who want to buy lower.

I've still got cash on the sidelines myself, waiting to buy another round of panic. I'd love to shake out some more late bulls and see that $9,600 weekly CME gap filled.

I dunno I'm sure there are people loading up the charts every so often hoping bitcoin fails because they lost their wallet or missed $150 and are just hoping they're proven right...

That being said, there sure are those optimistically buying all the dips and doing fairly well from it but in this case, we all switch from being bears to being bulls at some point.

I'm just hoping we don't end up with a fake out before the gap fill but we got close to it last night.
3467  Bitcoin / Electrum / Re: electrum wallet node on: September 09, 2020, 04:05:53 PM
--snip--
Ask your admin to whitelist virtualization software (such as VirtualBox) or use HyperV Tongue

--snip--
Good you figured it out, i can imagine it's very confusing for people who only have Tor Browser & confused why the option only can be seen sometimes.

Yeah, i'd love to do that... But apparently there's a problem with virtualisation software on pc's that use bitlocker (at least that's what the team in charge of user's laptop's configuration has told me).
And since i manage the partitions on our power infrastructure, and i have full access to our vmware vsphere, I can make as many vm's as i want on both power and x86 professionally, so they don't want to bother investigating virtualisation sollutions for my personal use.

That being said, I find completely hiding options to be confusing for everybody... I mean, why would you completely hide options... That's just asking for discussion like this one. If an option is greyed out, everybody will immediately realise that the option exist, but for some reason it's not available to them.
Maybe i'll open an issue on github somewhere in the future... Maybe (if i find the time), i'll do a pull and see if i can fix it myself... However, this seems like a deliberate choice of (one off the) dev(s), so i doubt they would merge a "fix" anyways.

I thought dynamic buttons were meant to be more user friendly. If you open the issue, instead make a button that says "proxy settings" or something.

And yeah if it's Windows 10 with bitlocker then the "bios settings" have been moved. If you've got a spare USB you can probabky find them and boot from the USB with an operating system like Ubuntu (though I've never not been an admin of a win10 machine so I don't know if those settings are blocked).
3468  Economy / Economics / Re: In COVID-19 everyone needs motivation on: September 09, 2020, 03:57:09 PM
If this is in relation to the pandemic - I don't thin k it's come off that bad we needed a downturn anyway as its a weird result of capitalism (a crash every 4-20 years).

In terms of the world, yes we do need to find ways to make everywhere a bit better (especially since it shouldn't be too hard in developed countries). I think there's a bigger problem that was mentioned earlier of people wanting short term change without any effort required - which benefits only a very few people and not even an entire population.

The governments are responsible for the good of all people, they are the ones who have power to help the economy rise again. They have power to implement laws, control the budget and use it in the right way. It is true that there are a lot of opportunities where people can engage as a source of money during this crisis but it is not that easy to find.

Individuals are working hard to cope up with this struggles in life, jobless people are increasing and it is our own duty to look for something where we can benefit of. Relying in the government and waiting for the aid or help is not a guaranteed option, we should deal with the reality that we can't survive if we don't move.

Ultimately the government have little knowhow of the issues facing normal people and can only really act on statistics (especially since a lot of their salary is guarenteed for a few years at least).

Governments generally respond to what other governments do and what people do in certain areas yes but its motivating the group of people do something different or having the resources to do it (which the government have).
3469  Other / Meta / Re: Using the forim to post trading instructions? on: September 09, 2020, 01:39:59 PM
You shouldn't be paying more than about $20-30for cheap hosting even with a vps and domain (and then about $10-20 after the first year).

Cheap hosting is much less than what you state, and for his needs VPS it is not needed at this time. Unlimited webspace & bandwidth for only $5.95 per month + com. or net. domain for less than $10 per year. Of course, he can pay for all this with BTC or with some other coin if he chooses some crypto friendly provider like this one.

I meant for the year it shouldn't cost more than $30.
3470  Other / Meta / Re: Using the forim to post trading instructions? on: September 09, 2020, 12:18:13 PM

Hey bud! Remember me?
You gave me a few sats so that I could try LN. I thought that was very kind of you.


Hi! Yeah I do remember that (took a while though) and no worries Grin.

Register a domain name,and get some cheap hosting,

This is probably dependent on how much OP is actually making but people might feel more confident having the option between submitting kyc info on lbc or a personal website.

I didn't think the rules in Canada were that strict actually.

You shouldn't be paying more than about $20-30for cheap hosting even with a vps and domain (and then about $10-20 after the first year).



3471  Other / Meta / Re: Using the forim to post trading instructions? on: September 09, 2020, 02:57:29 AM
Yeah just shove it in services in the marketplace section.

The admin doesn't actively trade crypto and this forum was made for bitcoin community growth as a non profit.
3472  Bitcoin / Electrum / Re: Need help with Old Electrum Wallet on: September 08, 2020, 09:34:28 PM
Can you backup your seed and then install a new version of electrum. I'm not sure which panel it is in exactly but you can just go through file and across (it's probably the wallet menu) and click to reveal the seed once you put your password in.

IF YOU DO MANAGE TO CONNECT TO A SERVER, DO NOT SEND YOUR FUNDS ANYWHERE. There is a vulnerability in the old electrum that allows for a phishing message to be displayed and gets you to install a fake version.

Instead download the current version of electrum from electrum.org or use a search engine and click the first NON AD link you come across.
3473  Economy / Trading Discussion / Re: ✅Healthy correction will always give you Healthy Bull run. on: September 08, 2020, 07:57:24 PM
Healthy correction and a big drop are different things. We can't say this is a big drop or it is a healthy correction, maybe it is one or the other who knows.

However we can totally say that this is just a bigger one than expected, nobody expected bitcoin prices to move from $11.8k levels just like 10 days?

I think we clocked $12k before it started rallying down hard, I remember being online and in one refresh of a chart we'd dropped from $12k to $11.34k in what seemed like a small amount of time.

The rise in price also wasn't that healthy if we're sauying this drop isn't healthy. It looks like it was a fast move.


How did you say so? If anything, $8000 level prices aren't really that unlikely(though I'm definitely not saying it will drop down that low, because no one knows). Significantly bigger levels of price drops(15% or more) aren't really new, and definitely not out of the ordinary.

The waves could still blow down to that $8,000 area except there is a huge impact made on cryptocurrency for a reversal to show up. The market is catching on the bear trend and trend is still on.

From memory: I thought $1000 is psychologically significant and then: $9400, $8800, $7500 or the areas around those, I don't think a drop to $8k will stay there and it will keep going a bit further. $7.5k could be a problematic drop but as long as we stay above $6k it might not effect much.

I could see us being healthy if we bounce of anywhere between here and $~8.4k (overcorrecting for the 8.6-8.8k levels).

3474  Economy / Speculation / Re: Are we at the first sell off point now?. on: September 08, 2020, 07:30:00 PM
Where did this picture come from buddy? I mean everyone keeps showing this all the time whenever there is a big increase and follow up drop.
It's just phases of a bubble? And a bubble is just a sudden increase in price that eventually bursts and resettles towards the mean.

Let's assume that this is actually true, where the hell is 2017 huge gain? If that is the peak, where the hell is the 2019 huge 3x almost 4x increase? If that is there where the hell is this year's $3.6k drop to $12k+ increase? Are you even aware how little you guys are putting faith into crypto?
The phase is recursive, the graph repeats itself over and over. It can be used to represent anything, the S&P and the ftse don't just go up - they drop every so often too.

We are talking about something much much bigger than just a picture, we are dealing with something that will make us a ton of money and time to time it will go down, that is fine, there is no problem with that.
I mean my point, if you'd look at the chart, is that now might be a good time to look at accumulating some funds if you've been holding just cash so far - for people waiting for dips. A 10-20% of potential investment entry wouldn't be a bad idea around now?



Nothing rises linearly and continuously, it's the whole principal of some technical analysis: such as Eliott waves.
3475  Economy / Speculation / Re: Are we at the first sell off point now?. on: September 08, 2020, 05:45:01 PM
After all the years and the experience i do have on this market then its quite really hard to follow up these kind of patterns yet we dont even know if we are on that first sell-off. Where we do base?

Im not saying that these movements or patterns are irrelevant but these things actually confuses me yet anytime you do look at this then you would really presume out on where we at already

I think they're often more what you see/experience after a bull run, at the moment they may not be relevant to some but it's something to keep an eye to get an idea of how "the crowd" reacts.


I could be wrong, of course. Because I wouldn't be surprised if bitcoin breaks the correlation trend sometime soon. Wouldn't be betting on it though.


II thought it was because both have seen aggressive moves recently. I'm hoping it doesn't remain a thing - especially if it only follows American markets as they could be slowing down soon in growth...

no, i think we are actually in the "despair" phase instead and the next phase which would be repetition of this whole thing from the start (take off) has not started yet.

I think I'm expecting $20-24k to be the closing mean of the whole movement (the price we settle back to whenever we see the next 2015/(2018 - with the $3k prices for a long time).

We did see a large rise and I do recall thinking there'd be a sell off after the really weird pattern we had forming.

It's an iterative process so the first sell off and major sell off phase are extremely similar and it could be either.

What, I was thinking the same thing, $ 6,000-8,000, will most likely repeat itself.

It has been one week since I withdrew all my investment assets in Bitcoin, my analysis is correct Bitcoin dropped to the level: $ 9600, and so on.

@jackg, is it possible that something could happen as you say, is this a good sign.

I'd suggest maintaining a hodl position or having some way of quikcly buying back in if we see something very bullisjh and then a capitulation.

A breakthrough of $10450 would have made $9700 a lot more likely from my analysis, a drop to 9600 and further is possible but I'm not sure how likely it is - we could certainly overcorrect past the 9700 and if we do that and have a slow(ish) take off - that doesn't cause a gap in other markets, I'd say it's a pretty healthy movement.

Because with the price going up and all but without any volume supporting the price movement I doubt we are over a new market cycle.

You can have smaller cycles incide bigger cycles though?

3476  Bitcoin / Electrum / Re: electrum wallet node on: September 07, 2020, 08:04:32 PM
sorry not to have mentioned, I am using the latest version.

Is it caught on synchronising or not connected if you're not using a vpn or have configured electrum for one..

Do you have any antivirus installed that could be blocking it? (normally you'll see a popup)..
3477  Other / Meta / Re: Android app or tapatalk on: September 07, 2020, 07:23:09 PM
I am using my phone to write this I know that. It's not really user friendly like this that's all
A keyboard on a phone is indeed not very user friendly. But why is that the forum's problem if you choose to use a tiny device for a forum designed for computers?

I read the forum on mobile too, it's just takes some zooming and moving to read. A tablet works better already, but a text-based forum will always be best on desktop.

I think I've used my phone so much now I can't go back.... I don't have to do the zooming thing though because I preset stuff in Firefox to show text big enough which works most of the time. I bought a Bluetooth keyboard too but don't use it often.

Disclaimer: I have a 15cm tall phone screen and it's easier to use a bigger screen.

My main issue is autocorrect...
3478  Economy / Speculation / [bullish] Are we at the first sell off point now?. on: September 07, 2020, 07:11:42 PM
Just thought I'd remind myself how this goes and I reckon we're around the first sell off point or we'll be coming to that (we could still be up to half way along the initial rise and just entered the institutional phase). The mean I'd pick would probably be around $6000-8000



Edit: added bullish to title 23rd September.
3479  Economy / Economics / Re: In COVID-19 everyone needs motivation on: September 07, 2020, 04:36:10 PM
If this is in relation to the pandemic - I don't thin k it's come off that bad we needed a downturn anyway as its a weird result of capitalism (a crash every 4-20 years).

In terms of the world, yes we do need to find ways to make everywhere a bit better (especially since it shouldn't be too hard in developed countries). I think there's a bigger problem that was mentioned earlier of people wanting short term change without any effort required - which benefits only a very few people and not even an entire population.
3480  Economy / Economics / Re: Can legalisation of Cannabis help US economy? on: September 07, 2020, 01:51:14 PM
It's a weird one based on the article. Also is cbd still legal (with a max of 0.1-0.5% thc)?

I think the police in the US are extremely overmilitarised, they may as well not be separate institutions from what I can tell based on the amount of legal favours the police have there.

Drug prohibition in general is just a way for most governments to prosecute the poor - if you're rich enough you're getting a drug dealer to come near your land: you're not meeting them in an alleyway somewhere. I think weed is much safer than cigsrretes too - and it smells nicer.

The $4bn budget as an argument doesn't sound much though, the US and UK spend about that funding weapons against isil (so they can fight their proxy war with Russia).
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